September 2017 Selling System Update

Mortgage Insurance Certificate Identifier

Effective September 18, 2017, you’ll receive a new critical edit if you deliver a loan with mortgage insurance that has an invalid MI Certificate Identifier (Sort ID 412). See Exhibit 10 for information on Freddie Mac-approved private mortgage insurers and the certificate characteristics for each.

This validation should reduce the need for post-fund data corrections.

Uniform Closing Dataset Mandate

The Uniform Closing Dataset (UCD) must be submitted to Loan Closing AdvisorSM, our UCD data collection solution, for mortgages sold to Freddie Mac with a Note Date (Sort ID 320) on or after September 25, 2017. You’ll receive a critical edit through the Selling System for any mortgages that do not meet the UCD requirement.

As a reminder, you won’t be required to embed the Closing Disclosure PDF in the UCD XML file until April 2018 at the earliest. However, if you’re able to deliver the UCD XML file with the embedded Closing Disclosure PDF before that date, we encourage you to do so. Learn more here.